ICICI Bank Ltd: CLSA recommends a 'BUY' on the private sector lender with a target price of Rs 1,150.

While ICICI has expanded its net interest margin, it has not increased the risk on its balance sheet and has reduced exposure to relatively risky sectors such as capital markets and real estate which is a positive. Our target price suggests a 22 per cent from current levels.

Our ( CLSA) analysis showed that banks have reined in exposure to risky segments but asset quality between public and private lenders is diverging. Further, current and savings accounts growth has decelerated while the investment cycle slowdown has hurt fee income. Our top picks are ICICI, Axis and HDFC Bank.

HDFC Bank is a 'BUY' call with a target of Rs 715. The brokerage firm is also positive on Axis Bank with a target price of Rs 1330, while for SBI, the target price is Rs 2350.

Bharti Airtel Ltd and Idea Cellular: After getting hit by slew of downgrades, Deutsche Bank recommends a 'buy' on the telecom major with a target price of Rs 285.

Deutsche Bank is of the view that, although the environment is challenging, we believe the stock price discounts the concerns. Bharti's new stance is aimed at reversing the trend of revenue-share losses which should emerge as the key catalyst for stock performance.

We are surprised at the high volume growth that Shree Cement has witnessed during the quarter which far ahead of 2-5 per cent reported by its peers. We place our estimates and target price for Shree Cement under review given the positive surprise

Coal India Ltd: JPMorgan maintains 'underweight' rating on the state miner with a target price of Rs 320 as lower e-auction prices should weigh on the margins. In the medium term, regulatory uncertainty remains elevated.

COAL's FY12 offtake growth has been muted over the last few years due to law & order issues, lower rake availability and heavy rains impacting production in 1HFY12